SINGAPORE, July 18 (Xinhua) -- Singapore's asset management volume reached 5.41 trillion Singapore dollars (4 trillion U.S. dollars) by 2023, a 10 percent growth from the previous year, according to the data released by the Monetary Authority of Singapore (MAS) on Thursday. The assets under management also recorded a 10 percent compounded annual growth rate over the past five years, it said. Driven by increased financing needs to fund business expansion, Singapore's corporate debt market witnessed a robust rebound last year despite interest rates peaking at multi-decade highs, MAS noted. The corporate debt market increased 10.5 percent year-on-year to 566 billion Singapore dollars in 2023, with new issuance growing 21 percent to 230 billion Singapore dollars. Singapore's sustainable debt issuances grew year-on-year by 7 percent in 2023 to 38 billion Singapore dollars. Over 130 billion Singapore dollars of sustainable bonds and loans were issued between 2018 and 2023, MAS added.
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